German pharmaceutical and chemical giant Bayer announced on March 10 that it has agreed to sell its pest control business to private equity firm Cinven for $2.
6 billion
.
The transaction is expected to close in the second half of this year
.
Bayer said the deal will simplify the crop science unit's portfolio and ensure it is more focused on its core agricultural business
.
Bayer's Pest Control business provides environmental solutions for the control of pests and weeds in non-agricultural sectors such as vector control, professional pest management, vegetation management, forestry, turf and ornamental plants
.
In 2021, approximately 800 employees support operations and sales in more than 100 countries
.
Headquartered in North Carolina, USA
.
Bayer announced the spinoff of the business in February 2021
.
